Used primarily as a key intermediate in pharmaceutical and organic synthesis, especially in Suzuki-Miyaura cross-coupling reactions. This compound enables the formation of carbon-carbon bonds, making it valuable in the development of complex indole derivatives found in bioactive molecules and drug candidates. Its boronate ester group facilitates mild and selective coupling with aryl or heteroaryl halides, commonly used in the synthesis of potential therapeutic agents targeting neurological disorders, inflammation, and cancer. It is also employed in materials science for constructing functional organic molecules with optoelectronic properties.